[CBSE] Q. 29 Change in profit sharing ratio Solution TS Grewal Class 12 (2023-24)
Solution to Question number 29 of the Change in Profit sharing ratio chapter 4 of TS Grewal Book class 12 CBSE 2023-24 Edition?
Rajesh and Mahesh are partners in a firm sharing profit in the ratio of 3 : 2. Their Balance Sheet as at 31st March 2023 was as follows:
Liabilities | ₹ | Assets | ₹ |
Rajesh’s Capital A/c Mahesh’s Capital A/c Creditors | 54,000 36,000 36,000 | Cash Machinery Building | 18,000 36,000 72,000 |
1,26,000 | 1,26,000 |
Goodwill of the firm is valued at ₹ 36,000 and the building at ₹ 90,000 on 31st March, 2023. The partners decide to share profits equally with effect from 1st April, 2023.
Pass the necessary accounting entries without affecting the existing figure of building.
![](https://commerceschool.in/wp-content/uploads/2023/04/q29-1-1024x559.webp)
Solution:-
![](https://commerceschool.in/wp-content/uploads/2024/04/1-112-1024x313.webp)
![](https://commerceschool.in/wp-content/uploads/2024/04/2-74-1024x455.webp)
![](https://commerceschool.in/wp-content/uploads/2024/04/3-48-1024x372.webp)
![](https://commerceschool.in/wp-content/uploads/2024/04/4-20-1024x296.webp)
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1 | Question – 1 |
2 | Question – 2 |
3 | Question – 3 |
4 | Question – 4 |
5 | Question – 5 |
6 | Question – 6 |
7 | Question – 7 |
8 | Question – 8 |
9 | Question – 9 |
10 | Question – 10 |